Great News for Peoria Local Economy: Caterpillar Inc. is Expanding Its Headquarters!

If you're a current Peoria home owner, you're sure to be thrilled with the great news we have to share with you today: Evidently, CATS (a major company based in Peoria) announced recently that it is not only keeping its headquarters in our beautiful city but it's also planning on expanding its campus!

This is great news for the economy of Peoria as well as potential real estate sales. Continue reading to learn more!

Details Emerge About CATS' Company Headquarters in Peoria

According to the recent article I was reading, Caterpillar recently revealed plans for a new campus that will not only update its headquarters but will also change the face of our city's downtown area.

The new headquarters will feature three office towers standing eight floors tall. These towers will anchor a six-block campus that will run from Fulton Street to the Murray Baker Bridge, which is bordered by Adams and Water streets.

This project will replace the company's present headquarters at 100 NE Adams Street, which was constructed in 1967.

Ultimately, the realignment will encompass 31 acres on Peoria's riverfront.

More Highlights of The New Company Headquarters in Peoria

Here are some pretty interesting features that this new building is expected to have:

Building towers will be connected by a three-story horizontal office space that spans two city blocks

Green spaces, walking and bicycle paths as well as food and retail options will be included

There will also be employee amenities like a fitness center and child care services.

Historic Caterpillar equipment will be displayed across the street from the Caterpilla Visitors Center.

Company executives said that the multiyear project would not begin in 2015. This year, they're only looking at making minor site changes.

Although there is currently not a final dollar figure for the project, it is expected to generate a lot of jobs in the area.

And when the project is done, the new headquarters will house 3,200 people.

Why Home Owners in Peoria Should Be Excited About This Development

CATS' new company headquarters will not only spur economic activity in the city thanks to job creation, but it will also provide a higher quality of life with the amenities that the building will introduce to the city.

Plus, this new development should serve as a great selling point for anyone in Peoria considering listing their property.